What Is 3m Corporation?

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What is 3M Corporation? Founded in 1902 in a little town on the shores of Lake Superior, 3M started out in the mining business as the Minnesota Mining and Manufacturing Company. Today, 3M is a multinational powerhouse, with more than $20 billion in annual sales across a product line 50,000 deep, from adhesives to optical film. It boasts 22,800 patents, many derived from its 15 percent program. The program has been key to 3M 's business strategy and could be a model for other companies eager to innovate. Says Kurt Beinlich, a technical director for 3M: "It 's really shaped what and who 3M is. In today’s business world, innovation is the mantra of success. For companies large and small, the big winners are those that match new, marketable ideas with customers before anyone else can. It takes flexibility and creativity and a willingness to risk. One hundred years ago, when 3M was founded as Minnesota Mining and Manufacturing, the formula for business success was the same. But for 3M, perseverance mattered even more. The multiple crises that rocked 3M a century ago could have easily destroyed a young company in the 21st century. Innovative companies provide forums for employees to pursue opportunities. For example, 3M Corporation. This company was awarded the US government’s highest award for innovation, the National Medal of Technology. Over a 20-year period, 3M’s gross margin averaged 51% and the company’s return on assets averaged 29%. 3M has consistently been highly ranked,

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